UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d)
OF THE SECURITIES
EXCHANGE ACT OF 1934
DATE OF REPORT:
January 20, 2005
(Date of earliest event
reported)
POWELL INDUSTRIES, INC.
(Exact Name of
Registrant as Specified in Its Charter)
| Delaware (State or other jurisdiction of incorporation or organization) 8550 Mosley Drive Houston, Texas (Address of Principal Executive Offices) |
001-12488 (Commission File Number) |
88-0106100 (I.R.S. Employer Identification Number) 77075-1180 (Zip Code) |
(713) 944-6900
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or
Former Address, if Changed Since Last Report)
Item 7.01 – Regulation FD Disclosure
On January 20, 2005, the Company issued a press release to announce the delay of filing its Annual Report on Form 10-K for the year ended October 31, 2004. The press release announcing the delay is attached hereto as Exhibit 99.1.
Item 9.01 – Financial Statements and Exhibits
(c) Exhibits:
| Exhibit Number |
Description |
|---|---|
| 99.1 | Press Release dated January 20, 2005 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: January 21, 2005 |
POWELL INDUSTRIES, INC. By: /s/ DON R. MADISON Don R. Madison Vice President Chief Financial Officer (Principal Accounting and Financial Officer) |
EXHIBIT 99.1
 |
PRESS RELEASE |
| FOR IMMEDIATE RELEASE |
Contacts: | Don R. Madison, CFO Powell Industries, Inc. 713-947-4422 Ken Dennard / ksdennard@drg-e.com Karen Roan / kcroan@drg-e.com DRG&E / 713-529-6600 |
POWELL INDUSTRIES DELAYS FILING OF
FISCAL 2004 ANNUAL REPORT ON FORM 10-K
HOUSTON — JANUARY 20, 2005 — Powell Industries, Inc. (NASDAQ: POWL), a leading manufacturer of equipment and systems for the management and control of electrical energy and other critical processes, today announced that it has requested a 15 day extension to January 29, 2005 with respect to the filing of its Annual Report on Form 10-K with the Securities and Exchange Commission.
Preliminary unaudited results for the 2004 fiscal year were announced on December 15, 2004. In completing its year end audit, the company discovered that its recording of two leases overstated expenses in fiscal 2004 as reported in our December 15, 2004 announcement. Correction of the overstatement will increase net income in fiscal 2004 by approximately $240,000. As a result, the Company expects to report net income of $1,669,000 on its Form 10-K for fiscal 2004 compared to $1,429,000 as previously announced.
Powell Industries, Inc., headquartered in Houston, TX, designs, manufactures and services equipment and systems for the management and control of electrical energy and other critical processes. Powell provides products and services to the transportation, environmental, industrial and utility industries. For more information, please visit www.powellind.com
Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainty in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, including but not limited to competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.